Nine companies excluded from the oil fund

Norges Bank mortgage policy rateNorges Bank (Bank of Norway), Headquarters Photo: Norges Bank

Norges Bank has decided to exclude nine companies from the Government Pension Fund Global. In addition, one company has been put under observation.

The oil fund revealed this in a press release on Tuesday.

The companies Evergreen Marine Corp. (Taiwan) Ltd, Korea Line Corp., Precious Shipping PCL and Thoresen Thai Agencies PCL are excluded after an assessment of the risk of serious environmental damage and gross or systematic human rights violations.

Pan Ocean Co. Ltd is put under observation based on similar criteria.

The company Atal SA has also been excluded due to unacceptable risk of gross or systematic violations of human rights.

The Executive Board of Norges Bank has also decided to exclude AECOM, BAE Systems, Fluor Corp. and Huntington Ingalls Industries Inc due to the companies’ production of key components for nuclear weapons.

In addition, the Executive Board has decided to maintain the exclusion of Honeywell International Inc based on the same criteria.


© NTB Scanpix / Norway Today